CAC 40 In The Red As Caution Rules
2024-11-17
2970
(fxcue news) - Lingering geopolitical tensions in eastern Europe and worries about the economic outlook for Europe dominated market sentiment, dragging down the CAC 40.
The CAC-40 is currently trading at 7,188.77, edging down 0.13 percent from the previous close of 7,198.45. The day's trading has been between 7,206.19 and 7,131.21.
Amidst the risk aversion, only 7 scrips of the index that tracks the 40 largest French stocks based on the Euronext Paris are trading above the flatline.
Eurofins Scientific topped gains with a surge of 1.3 percent. Vinci and Axa have gained more than a quarter percent.
Kering topped losses with a decline of 2.9 percent. Teleperformance, Stellantis, Essilor Luxottica, Danone and Renault have all lost more than 1 percent.
With the dollar staying firm above the flatline, the EUR/USD pair has slipped 0.18 percent to 1.0524 percent after ranging between 1.0555 and 1.0514. Amidst the sterling's strength that followed the higher-than-expected inflation readings, the EUR/GBP pair also slipped 0.12 percent to 0.8324. Concerns about a potential rate hike by the Bank of Japan lifted the yen, dragging the EUR/JPY pair 0.85 percent to 162.50.
Yields on France's ten-year bonds spiked to 3.098 percent recording an increase of 0.10 percent from the level of 3.095 percent at the previous close. The day's trading ranged between 3.143 percent and 3.092 percent.
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